The opinions expressed are solely those of the author and do not reflect the views of the editors or editors of Rolling Stone.
Like a customer review or influencer partnership, an affiliate marketing program relies on the willingness of others to promote your business. Without satisfied customers and a good reputation, it will be difficult to be successful.
However, creating an affiliate program can be a relatively straightforward endeavor if approached the right way, and is often a lucrative business for you and your affiliates once properly established. To help you get started, members of the Rolling Stone Culture Council have shared eight essential steps you and your business will need to take to run a successful affiliate marketing program and increase your profits.
Building a solid foundation
Build the foundation and make sure it is solid before you start the program. This way you won’t have to build the plane while you are flying which will make things harder than they need to be. In the age of digital advertising, this is one of the easiest ways to generate passive income, especially after the legwork is done. Identify the key elements of your program and make it work. – Marla Matime, Voice Media Ventures
Find a way to stand out
Separate yourself from the competition. Affiliate marketing has become extremely saturated with the continued growth of various social media platforms. To be successful you need to stand out from potential buyers because there are opportunities everywhere they look. Be original, be creative and be realistic so that your customers and affiliates always give you their business. – Logan Forbes, Untitledexport MGMT
Define and follow goals
Set goals for the program and track results regularly. If you are not making progress towards your goals, you will know it before it is too late and you can then correct the course. – Erin Roche, Candy & Flowers
Collaborate with the right people
I have found that the most successful affiliate marketing programs are those that have established relationships with trusted, well-connected affiliates. Having affiliates who know your product, believe in your product, and have a strong network of consumers who trust their recommendations can lead to rapid sales growth. – Craig J. Lewis, Gig Wage
Focus on education
Make sure your affiliates are properly equipped with equipment. We have invested in creating a high quality how-to video, as well as detailed product information pages and a calculator tool to give our Affiliates (whom we call âPartnersâ) the best possible chance to. successfully communicate the value of our product to potential customers. . – Tim Jack, get up
Consider how your partners add value
Not all strategic partnerships are created equal. Working with partners should bring added value to everyone. Taking the time to think about how your partners add to your story and improve its authenticity will create a loyal following. – Amanda Reiman, Personal Plants
Make affiliates feel like part of the team
Make sure creators feel independently seen, valued and heard, rather than a number in a really big campaign. In order for them to truly connect with the brand and truly feel obligated to lead the business, they need to feel like an imperative and unique member of the team. It is important that the marketing team is completely in tune with the affiliates. – Emily Blair, Emily Blair Media
Think outside your own perspective
You have to go deep into the minds of the people you want to be partners. We tend to only think about the benefits to us, but unless you have a tempting offer for your affiliates, your efforts are a waste of time. – Michael Newman, Small Projects Office